World coffee market increases and decreases in opposite directions
Coffee prices today December 31, 2024 on the world market, at 4:30 am updated on the Vietnam Commodity Exchange MXV (world coffee prices are continuously updated by MXV, matching world exchanges, the only channel in Vietnam that continuously updates and links to world exchanges).
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| People in Gia Lai harvest coffee for the 2024-2025 crop. Photo: Hien Mai |
Coffee prices at the three main coffee futures exchanges ICE Futures Europe, ICE Futures US and B3 Brazil are continuously updated by Y5Cafe during the trading hours of the exchange, updated as follows:
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| Robusta Coffee Price London December 31, 2024 |
At the end of the trading session, the price of Robusta coffee on the London floor updated at 4:30 a.m. on December 31, 2024 had a very strong price decrease of 29-38 USD/ton, fluctuating between 4690 - 4921 USD/ton. Specifically, the delivery period for March 2025 is 4921 USD/ton (down 32 USD/ton); the delivery period for May 2025 is 4855 USD/ton (down 29 USD/ton); the delivery period for July 2025 is 4776 USD/ton (down 38 USD/ton); the delivery period for September 2025 increased by 4690 USD/ton (down 36 USD/ton).
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| Arabica Coffee Price New York December 31, 2024 |
Arabica coffee prices on the New York floor on the morning of December 31, 2024, had different increases and decreases and very slight fluctuations. Specifically, the decrease was from 0.65 - 1.65 cents/lb, ranging from 316.95 - 321.00 cents/lb; the delivery period for March 2025 was 321.00 cents/lb (down 1.65 cents/lb), the delivery period for May 2025 was 316.95 cents/lb (down 0.65 cents/lb); Meanwhile, the decrease increased from 0.70 - 1.45 cents/lb, ranging from 305.15 - 311.75 cents/lb, the July 2025 delivery period is 311.75 cents/lb (up 0.70 cents/lb) and the September 2025 delivery period is 305.15 cents/lb (up 1.45 cents/lb).
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| Brazilian Arabica Coffee Price on December 31, 2024 |
At the end of the trading session, the price of Brazilian Arabica coffee on the morning of December 31, 2024 mostly increased slightly, updated as follows: The increase is from 0.30 - 0.95 USD/ton, ranging from 375.10 - 396.15 USD/ton. Specifically, the delivery period in May 2025 is 396.15 USD/ton (up 0.35 USD/ton); the delivery period in July 2025 is 388.00 USD/ton (up 0.95 USD/ton) and the delivery period in September 2025 is 375.10 USD/ton (up 0.30 USD/ton). Particularly, the delivery period in March 2025 is 400.00 USD/ton (down 1.30 USD/ton).
Robusta coffee traded on the ICE Futures Europe (London exchange) opens at 16:00 and closes at 00:30 (next day) Vietnam time. Arabica coffee traded on the ICE Futures US (New York exchange) opens at 16:15 and closes at 01:30 (next day) Vietnam time. For Arabica coffee traded on the B3 Brazil exchange, it will open from 19:00 – 02:35 (next day) Vietnam time.
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| The weather is sunny, after harvesting coffee, people bring it home and pour it out into the yard to dry. Photo: Hien Mai |
Domestic coffee prices increased slightly
According to information from Giacaphe.com, updated coffee prices at 4:30 a.m. today, December 31, 2024, domestic coffee prices increased slightly by an average of 121,100 VND/kg, slightly up +200 VND/kg compared to yesterday.
The highest coffee purchase price in the key regions of the Central Highlands was recorded at 121,200 VND/kg and was recorded to increase by +200 VND/kg in the provinces. Specifically, the coffee price in Dak Lak today is 121,000 VND/kg; the coffee price in Lam Dong is 120,500 VND/kg; the coffee price in Gia Lai today is 121,000 VND/kg and the coffee price in Dak Nong today is 121,200 VND/kg. Thus, Dak Nong province is still the province with the highest coffee purchase price compared to the remaining provinces.
The domestic coffee prices that Giacaphe.com lists every day are calculated based on the prices of two world coffee exchanges combined with continuous surveys from businesses and purchasing agents in key coffee growing areas across the country.
Y5Cafe always tries to stay as close as possible to each region, however there will be days when the listed price does not completely match the local coffee purchase price, but Y5Cafe believes that the listed information is a valuable reference source for you.
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| Domestic coffee price list updated at 4:30 a.m. on December 31, 2024 |
Below is a detailed overview of the Vietnamese and global coffee markets as of December 31, 2024:
According to forecasts, the Vietnamese coffee market is estimated to reach US$511.03 million in 2024 and is expected to reach US$763.46 million in 2029, with a compound annual growth rate (CAGR) of 8.13% during the period 2024-2029.
In terms of output and export: Vietnam continues to maintain its position as the world's second largest coffee exporter, after Brazil. In the first 11 months of 2024, coffee export turnover reached 4.84 billion USD, surpassing the total turnover of the whole year of 2023 and setting a new record. The average export price of coffee in November 2024 reached 5,818 USD/ton, the highest level ever.
World coffee market: According to the report of the International Coffee Organization (ICO), coffee output in the 2023-2024 crop year is expected to increase by 5.8% to 178 million bags (each bag weighs 60 kg), of which Arabica coffee output will reach 102.2 million bags and Robusta coffee will reach 75.8 million bags.
World coffee consumption is expected to increase by 2.3% to 177 million bags, with the largest contribution coming from non-coffee producing countries, which are expected to increase by 2.1%.
Global coffee prices continued their upward trend on concerns about supply disruptions. In Brazil, producers are holding back coffee in hopes of higher prices, while forecasts of drought in Brazil’s largest Arabica coffee growing region are also pushing prices up. In Vietnam, unfavorable weather has affected key coffee harvest areas, raising concerns about Robusta supplies.
With the sharp increase in coffee export prices and the advantage in supply, Vietnam is facing the opportunity to change its position in the world market. However, to dominate the market, in addition to dominating output, coffee quality needs to be improved. Investing in sustainable production, building brands and meeting international standards, such as the EU Deforestation Regulation (EUDR), is necessary for export growth and sustainable development of the Vietnamese coffee industry.
Source: https://congthuong.vn/gia-ca-phe-trong-nuoc-hom-nay-31122024-tang-khong-dang-ke-367134.html
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